Wage growth Articles

UK wages up 6%, but fall in real terms

UK wages rose in the three months to October, but continued falling in real terms amid the ongoing cost of living crisis.  

Figures also revealed that while unemployment is still low, it increased slightly to 3.7%. Meanwhile the number of open job vacancies fell by 65,000 to 1.19 million.  

The Office for National Statistics figures show that both average total pay (including bonuses) and regular pay (excluding bonuses) increased by 6.1% between August and October 2022.